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Consumer Protection Laws Borrowers Financial Services Industry

Sheppard Mullin Richter & Hampton LLP

CFPB Settles Action Against Student Loan Servicer with Industry Ban

On September 12, 2024, the Consumer Financial Protection Bureau (CFPB) filed a proposed order which, if entered by the court, will ban a student loan servicer from servicing federal student loans and require it to pay $120...more

Sheppard Mullin Richter & Hampton LLP

CFPB Cracks Down on Mortgage Servicers, Alleging Harmful Practices Against Older Homeowners

On June 18, the CFPB settled enforcement actions against two mortgage servicers who serviced reverse mortgages on behalf of HUD, for their systemic failure to respond to consumer requests for assistance, resulting in...more

Sheppard Mullin Richter & Hampton LLP

CFPB Sues Fintech for Deceptive Practices Surrounding Tipping Service

On May 17, the CFPB filed a lawsuit against a California-based fintech that operates a nationwide website and mobile-application based peer-to-peer lending platform through which consumers can obtain small-dollar, short-term...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights - Issue 2, July 2023

CFPB Issue Spotlight Analyzes “Artificial Intelligence” Chatbots in Banking - "Poorly deployed chatbots can impede customers from resolving problems." Why this is important: The Consumer Financial Protection Bureau...more

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